Week Recap: What’s Behind OPEC+'s Bold Move to Increase Oil Supply?

In this episode of the Energy News Beat Daily Standup - Weekly Recap, the hosts, Stuart Turley and Michael Tanner discuss latest energy market developments, OPEC+ has increased oil production by 411,000 barrels to punish over-producers like Iraq and Kazakhstan, potentially driving oil prices down. Meanwhile, Saudi Arabia raised its prices to Asian markets, despite increasing output, aiming to maintain its market dominance in the face of competition from Russia and other producers. This move may be a strategy to secure long-term contracts with Asian refiners, highlighting the complexity of balancing supply and demand while positioning for future growth. Highlights of the Podcast 00:00 - Intro 02:05 - Why Spain’s Rooftop Solar Owners Weren’t Spared From the Blackout 04:53 - Why is Grid Inertia Important? 07:37 - Saudis Warn of More Supply Unless OPEC+ Cheats Fall in Line 15:31 - Dropping Oil Price Boosts Odds of Ukraine Peace Deal, Trump Says 18:23 - What is the future for U.S. crude oil? Have we hit peak production? 21:17 - US Cut Forecast for Oil Output Just Before Crude’s Latest Plunge 23:48 - 18 US states suing Trump over shutdown of wind projects 25:50 - Why did Saudi Arabia raise prices to the Asia market while increasing OPEC+ production quotas? 28:44 - Outro Please see the links below or articles that we discuss in the podcast. Why Spain’s Rooftop Solar Owners Weren’t Spared From the Blackout Why is Grid Inertia Important? Saudis Warn of More Supply Unless OPEC+ Cheats Fall in Line Dropping Oil Price Boosts Odds of Ukraine Peace Deal, Trump Says What is the future for U.S. crude oil? Have we hit peak production? US Cut Forecast for Oil Output Just Before Crude’s Latest Plunge 18 US states suing Trump over shutdown of wind projects Why did Saudi Arabia raise prices to the Asia market while increasing OPEC+ production quotas? Follow Stuart On LinkedIn and Twitter Follow Michael On LinkedIn and Twitter ENB Top News Energy Dashboard ENB Podcast ENB Substack ENB Trading Desk Oil & Gas Investing – Get in Contact With The Show –